Metal Recycling Market Market Size

Metal Recycling Market size was over USD 564.35 billion in 2024 and is poised to cross USD 1.29 trillion by the end of 2037, growing at more than 6.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of metal recycling is estimated at USD 594.15 billion.

The market is expected to increase due to the increasing need for metals in various applications and the increasing scarcity of rare earth metals. According to calculations, in the next five years, over 70% of respondents in the automotive sector will see a shortage of metal. Conversely, the chemical and infrastructure sectors will see shortages of roughly 77% and 81%, respectively.

In addition to this, reprocessing of metal waste has been more popular over the past 20 years due to decreased greenhouse gas emissions and efficient energy management, both of which are significant factors anticipated to propel market expansion in the near future. For instance, the net greenhouse gas emissions from human activities increased by 43% between 1990 and 2020. Emissions of carbon dioxide, which account for about three-fourths of all emissions, increased by 51% during that period.